Washington DC: IBM today closed the acquisition of Red Hat for $34 billion, marking one of the biggest acquisition of any open source company.

“We think open source has become the de facto standard in technology because it enables these solutions. Joining forces with IBM gives Red Hat the opportunity to bring more open source innovation to an even broader range of organizations and will enable us to scale to meet the need for hybrid cloud solutions that deliver true choice and agility,” said Jim Whitehurst, president and CEO, Red Hat.

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